no chance for newbie, too late to join now
CAPY - Defi Project with over 1 million % APY
Money brings out the worst in people. A project that depends on human nature for its success is doomed by default.
I sincerely hope all of you got in at the right time, and have some extra coins to invest in Incognito afterwards 
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We could create a token at this occasion to bet on victory or defeat of CAPY’s investors ^^
If you like this kind of degenerate experiment, check out goldchip.fund . It’s a fair ponzi that takes %10 of all deposits and all withdrawals distributes it to all current holders. I think its very interesting that blockchain makes things like this possible.
I don’t think I’ve ever read those words in that order before. Ponzi’s are designed to be not fair being that the individuals who come first will unfairly make the most money. That’s the whole idea!
Blockchains are a dream for these automated Ponzi schemes. Just know people when you hear about it you are already too late.
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Of course there’s always risk in anything. But I mean think about this one. Yes early investors benefit most as with any investment however, what investment do you know of that takes a cut of the early investors profits and distributes it to the new investors? The only way to lose is by selling too early or when nobody buys or sells ever again. I’m not advocating people throw money at it but I took a chance with money I don’t care if I lose and it’s been paying. And it’s been going for 2+ years already.
There are no investments like that because it’s illegal. It’s a ponzi scheme where the rich at the start take all the poor people’s money who get in later. It’s unsustainable because the profit is made only by people investing in. There is no other profit.
And the only way to win is by taking other people’s money. It’s immoral. Let alone look at the by price and sell price difference. -22% difference. You lost even before you bought in.
I think you’re missing the point. It is actually sustainable. Everyone knows going in what they’re getting into so it’s not immoral. I understand what you’re saying but you don’t understand the whole proposition. It’s more sustainable than the current structure of social security and in my mind I could see future social programs be structured very similarly to this. And by your definition all investment vehicles are a ponzi. With this smart contract, even if I were the last person holding I would walk away with 10% of the entire smart contract balance because the dividends are not subject to the 10% fee.
You should understand what I’m talking about before you try to tell me I’m wrong.
I don’t think this will fail for at least a week. Maybe I am wrong but $800k invested is literally nothing. The current “investors” still have to cash out. To do that they will have to shill the coin to new investors. The problem is not wether or not it will fail outright though. The main problem is there being enough demand to sell the tokens that you got as a reward. People will see their wallets credited with the tokens and put more money in before they can even sell the tokens they got from their first “investment”
Umm yeah it already tanked this morning. Where have you been?
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Check Xfinance and XSWAP
I got nice returns but i can’t tell if the price keeps!
On Incognito actually you have pretty high and sustainable returns and NO impermanet loss.
On ethereum i had some nice gains but also really bad impermanent loss( permanet loss :))
So basically i provide the most liquidity here and i try to catch some >1000x farms with smaller amounts!
Actually also on Binance Smart CHain i m farming a bit!
Pancake
BakerySwap
Venus
Burgerswap
Would be nice if we could do the same on Incognito:
We have a main currency (PRV), we have a DEX, we have smart contracts!
We could involve external teams (Defi Forks , Team, degens…) to use IncognitoChain for developing forks of Eth DeFi protocols.
Using the same strategy commonly used on eth/tron/bsc to provide liquidity on the DEX and stake the tokens representing your pool on an app(defi smart contract) to farm a token. That token could be used to be staked or added again to the liquidity pools or sold at marketprice on the DEX.
The main problem would be that we don t have so much liquidity or volume so the same strategy used on Incognito would be less profitable.
Anyway would be nice to have just someone that could try something like that on INCOGNITO!
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Seems you got in a bit too deep. I’m telling you how it is. If you view that wrong maybe you should double check your understanding of what you are getting yourself into.
It is not sustainable. Allow me to explain why. True investments are making a usable product, providing value from efficiencies they provide (think credit cards), or otherwise giving back to society. More value than what was put in kind of idea. If you make a product you will sell it for a profit and that profit will be shared with investors.
Social security can be understood as a ponzi too if you look at it briefly but the structure of it in fact makes more efficienties in society. Giving people who lost their job some funds so they can keep their house and put food on the table for their family so they can focus on getting another one and being productive to society just makes sense. Making sure that when you have worked your whole life that even if you didn’t save enough society will make sure you can keep a roof over your head and food in your belly allows people to work for now and be productive now. They know they don’t need to take large risks because of they keep working and doing what they are doing everything will end out ok. The funds that are invested into social security provides, guess what, social security. Things can happen in life that are unplanned. Making sure you are covered makes sure you are as productive as possible. If you ever met someone worried out of their mind this should make sense to you. If you are worried you are not working as effectively and not being as productive. You are thinking about other things when you should be thinking about the best way to do your work. There is also many other reactionary costs (such as healthcare being that if you are homeless you are way more likely to get sick and get other people sick, or criminal procedure costs when people break or steal property).
Now let’s look at the project you think is so great social security systems should be based upon it. It’s a 10% fee system for both the buying and selling of the Ponzi coins. This fee is used spread out incentive for people to use it. If per say I am the first person to put in $1000, $100 of that will go to this pot. So I’m left with $900 of my original value plus 100% of the pot I just put in which is $100. If I withdrawal another 10% is taken out. So I’m left with $900. That means there is about 10% edge to the pot for each full transfer in and out of the pot. To make any money I will need to wait for other people to invest their money into the pot. (The following will include the 10% withdrawal cut on dividend don’t post until you read all of it)
Let me start that example again now with three people with $1000 each. Person A puts in $1000. After Person B puts in $1000. After Person C puts in $1000. At the end of everyone putting in funds person A would be getting 1000-10%=900+(1000x0.1)+(1000x0.05)+(1000x0.0333…)=1083.3333. Are you starting to see the problem? That’s right the pot will never truly be empty. Because the moment you send funds a percentage of your money will always be in the pot never to be seen again. If you are the last person to withdrawal and had 100000 to be taken out of the pot you will get 90000 and 10000 will remain in the pot forever. There is no interest or way to make back the remaining funds. It’s there forever. As more and more people invest the share you will get is going to decrease. Look at Person B he put in $1000 but has $1000-10%=900+(1000x0.05)+(1000x0.033333…)=$983.33. When person A withdrawals his 1083.3333 he will get $975. Even with 3x the investment going in person A still left with LESS money even when he controlled 100% of the pot going in. Now look at Person B. With Person A gone he now controls 50% of the pot with Person B. His stack with 50% of the share from Person A withdrawal is now 983.333…+(1083.333…x0.05)=1037.4998. Please tell me you are understanding how getting any money in that is basically losing money.
“Oh but wait”, you say! “You counted dividends within the withdrawal! That is why your math is off.” Dividends seem to be not subject to the 10% withdrawal fee. And you can reinvest it too. That’s great! So I’m 100% wrong and you can walk away happy! Lol no. Dividend earnings are dictated by future earnings. Key word future. That example was to show a loss of value for the withdrawal amount. That’s right. The trick for this Ponzi is the 10% withdrawal amount. Allow me to explain. To make any money from the rewards you need to be either be first or near the first to invest and then near the last to withdraw. If you go and invest at the middle or at the end you will almost 100% lose a portion of your funds being that the investment amount is among of a pool and your dividend is proportional to the pool. Let’s take our example again with A, B, C that now have variable depositing amounts. Like how normal people would purchase.
A: 1000
B: 500
C: 250
A puts in $1000 gets $900 pool value with $100 dividend. He takes his $100 back (but likely he reinvested it in RL). He then waits for suckers B and C to come and “invest”. B puts in $500 and gets $450 pool value with, oh no, $17 of his investment back. That is because B’s investment in the pool only represents half of that that A has. A controlls 66% of the pools value so he gets 66% of the cut and poor B only get 33%. C invests $250 that turns into $225 where C gets back, wait for it, $3.906. At the end A can withdraw everything from the pool with 1000+(50x0.66…)+(25x0.5714…)=1,047.285. However A will never do that in the real world. Because A will never withdrawal his percentage of the pool. He will keep it in there as long as he can, waiting for more and more suckers to deposit and withdraw. When 50% of his original investment has been deposited and withdrawalled in fees he has made back pool investment without losing his pool percentage. Anything extra after that is quite literally free money for him. Everytime someone makes a deposit or a withdrawal he takes a cut. Fair? Don’t make me laugh. Now let’s add D, who is a big whale, that puts in $100,000 that ends off as 90,000 in the pool. D now controls 98.28% of the pool. He takes his $9828 and puts it back into the pool. He now controls 98.48% of the pool. Anyone who deposits, withdrawals, or does anything to put or take liquidity out of the pool will give him a large percentage (starting at 98.48%) of it until the pool even overshadowes him. While E who just put in $1000 will get 0.98% back for his deposit which is $0.98 for his $100 “investment.” A loves that D came because while his percentage of the pool is down he will always make some money off the suckers who put in some funds even if D is taking the majority of the cut right now.
Yes so very fair. The large majority of people who put in funds will lose at least 15-20% of their funds. That percentage won’t be spread equally to everyone who threw in some money but to those who put in the most money in relation to the pool. When the starting founders have made their starting deposit back in fees they can withdraw their own stake in proportion to their percentage of the pool. They can simply withdraw knowing they just made at least 20% their initial investment off these suckers if not over 100%. They don’t need to withdraw all of it at once. Just a little bit here and there to keep topping off people’s rewards hoping to make them think it’s an “investment” where they are not getting robber blind.
There is no such thing as a fair Ponzi. The rich will get richer while the poor fools will be seperated from the coin. Ponzi’s are not an investment like a stock because unlike a company which builds things or provides value to society, ponzi’s value is deprived by the investments made into it. The moments the investments stop it all falls down. That’s why it’s illegal. And that’s why it’s immortal to get involved. Because all your profit is made from others losing money.
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Lol I literally just found out about this when I made that post. That’s why I said I could be wrong but the point of my post was that even if it doesn’t tank people won’t be able to withdraw their funds.
Everyone has their choice, anw if you want to find somewhere stable and safe to invest, PRV could be considered 
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I understand what you’re saying. That’s why I said it’s a degenerate smart contact. I invested for lulz. What I was saying is that it is sustainable because of the semi fair nature of the contract. Yeah it’s not 100% fair but it’s structured in a way that doesn’t leave anyone empty handed. Many government programs will and do leave people empty handed.
I think you guys should learn more about YELD model, a disruptive model for the next generation of DEFI, I think YELD is the only one competitor can beat YFI, because of these features: - Audit complete - dApp coming out in the coming days - Farming algorithm is deflationary and is not locked VERY undervalued - $13.5M fully diluted MC Token ID: 0x468ab3b1f63A1C14b361bC367c3cC92277588Da1 More info: https://yeld.finance And PRV also can learn from YELD model if we want to catch DEFI trend in the future
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How about tronfi, they have many project these days
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I ended up discovering a way to get my money back from CAPY, but it involved taking a risk. Seeing as how I only invested under $200 initially, I thought, why not try?
See, the contract remained available long after the dump. The liquidity pool still held a lot of funds, the interest rate remained insanely high, and the token was dirt cheap. The liquidity was mostly made up of little amounts, too–whatever was left over of each person’s original stake–so there wasn’t much fear of someone withdrawing huge amounts and tanking everything. So I staked a bit and watched it grow. By the end, I actually earned a couple ETH out of the deal and was able to withdraw everything, including my original principal.
CAPY has now shut down the web interface for staking, so at this point you could only accomplish this through the smart contract, but I thought I’d contribute my experience. There might be a way to make these Ponzi projects work in your favor, but it’s not by jumping in during the initial pump.
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It is great to see it worked out that well for you.
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